DETROIT Automobile dealers on Wednesday added to considerations concerning the state of the U.S. auto industry and the way robust any downturn might be if its six-yr restoration has ended. If a automotive has been available on the market for some time with no buyers, that can make the seller extra more likely to accept a suggestion of lower than they’re asking for. And according to recent examine by the Brookings Establishment the strong restoration of the auto industry may actually have masked a relative sluggish recovery of US manufacturing in recent times.
Even as Japanese cars have taken a large swath of the U.S. market, American brands are barely visible in Japan, a situation that has lengthy frustrated U.S. auto executives and commerce negotiators and has change into a renewed source of political friction underneath President Trump.
That mentioned, with a fleet of ~265mm mild automobiles on the highway today vs. a driving age population of only ~255mm individuals, or just over 1 car per person, we might say the market is pretty penetrated. That spike will spur a sea change within the auto market in contrast to any in the century-plus reign of the interior combustion engine.
Despite these results, qualitative comments by administration on the convention call following the report spooked some on the Avenue. With auto sales tumbling after three report years, General Motors announced Wednesday that it’s going to lay off 2,000 hourly staff at two meeting crops, one in Michigan, the other in Ohio, …